How HomeLight Cash Offer Works
1. Get approved
HomeLight Home Loans will verify your income, assets, and purchasing power so that we’re ready to make the strongest offer possible — one that’s all cash.
2. Find your dream home
This is the fun part: We help identify the right homes to fit your needs.
3. Make an all-cash offer
We’ll use our funds to make an all-cash offer on the house on your behalf and close in 8 days. You don’t need to move a muscle.
4. The offer is accepted
You do the celebrating and we do the buying. We purchase the home and hold it while you secure financing.
What It Costs
Pricing could not be simpler. In addition to paying typical Real Estate commissions, closing costs, and repair expenses, there is a fee that typically runs about 1.5% of the home you are selling.
We find that most clients will recoup some or all of this fee by being able to make a stronger non-contingent offer on a new home AND getting top dollar for the existing home being vacant and all cleaned up. Below is a cost breakdown from an actual client.
Market Valuation $ 800,000
Homelight Guaranteed Price $ 720,000
Estimated Homelight Trade-in Fee $ (12,000)
Estimated Commissions, Closing, and Repair Costs $ (88,000)
Estimated Loan Payoff $ (343,000)
Equity for new home purchase $ 277,000
Actual Sales Price $ 830,000
Actual HomeLight Trade-In fee* $ (12,450)
Actual Commissions, Closing, and Repair Costs $ (72,210)
Additional proceeds after market sale $ 97,550
Total equity received from sale $ 374,550
Who is Homelight
HomeLight and Kinship Real Estate are changing the way we transact real estate.
HomeLight’s mission is to empower people to make smarter decisions during one of life’s most important moments: buying or selling a home.
They build data-driven and innovative products that give more control to buyers and sellers while reducing risk and uncertainty.
HomeLight has helped over 820,700 clients and has an A+ rating with the Better Business Bureau.
How do I get started with HomeLight Cash Offer?
Apply here. You’ll work with Kinship Real Estate to fill out your HomeLight Cash Offer application, a HomeLight representative will be in touch to discuss your home buying goals.
You can also get a head start on the home buying process by completing your mortgage application through HomeLight Home Loans.
What does it cost to use HomeLight Cash Offer?
HomeLight charges a fee to use our funds to make an all-cash offer and purchase the home on your behalf. The fee is dependent on your market, the lender you use, and the number of days HomeLight owns your home. All fees are calculated off of the final selling price of your current home. Additional costs may apply based on local tax laws. Additional costs may apply based on local tax laws.
Email [email protected] for more details.
Can I still work with Denton and Denton Group?
Kinship Real Estate and HomeLight work together throughout the buying process to help you get the home of your dreams.
Is HomeLight Trade-In available for my house?
HomeLight Cash Offer is currently available in California and Texas but things like where you’re located, the size, and condition of your will determine eligibility. Enter your information here to be notified when HomeLight Trade-In launches in your area.
Based on Chauner, Bailey. “How to Win a Real Estate Bidding War.” Redfin, 22 Nov. 2019, www.redfin.com/blog/win-bidding-war-on-house/
**When you use HomeLight Home Loans on your new purchase, the HomeLight Cash Offer fee is 1% of the home purchase price. If you use another mortgage lender, the HomeLight Cash Offer fee is 3% of the purchase price.
Let us know your name and contact info and we will reach out and explain the process in detail so you can choose whether or not to be qualified and get your guaranteed price. Or you can call us now (916) 794-1833